Gwen Baumgardner: The U.S. FACES RECORD-HIGH INFLATION, WITH PRICES SOARING MORE THAN 6% IN THE PAST YEAR. 

THAT’S DOUBLE THE AVERAGE RATE, AND ACCORDING TO THE LABOR DEPARTMENT, A 31-YEAR HIGH.

BETWEEN HIGHER PRICES, LESS SUPPLY AND A SHIPPING CRISIS, PRESIDENT BIDEN IS DEALING WITH AN ECONOMIC NIGHTMARE. Is there an end in sight? 

LET’S GET THIS STRAIGHT.

SINCE LAST YEAR, BEEF PRICES ARE UP 20 PERCENT, FURNITURE AND BEDDING ARE UP 12 PERCENT. AND NEW CARS ALMOST 10 PERCENT.

REPUBLICANS SAY YOU HAVE THE PRESIDENT’S STIMULUS PACKAGE TO BLAME FOR THAT.

Sen. Mitch McConnell: “There’s no relief in sight. It’s a direct result of flooding the country with money. The American Rescue Plan… produced raging inflation.”

Baumgardner: PRESIDENT BIDEN BLAMES THE PANDEMIC AND SAYS THE INFLATION IS TEMPORARY.

President Joe Biden: “WE GOT HIGHER DEMAND FOR GOODS AT THE SAME TIME WE ARE FACING DISRUPTIONS IN THE SUPPLIES TO MAKE THOSE GOODS.”

Baumgardner: ECONOMICS ONE-O-ONE… SUPPLY AND DEMAND.

THE PANDEMIC CURBED PRODUCTION IN A VARIETY OF SECTORS, INCLUDING MEAT PACKING PLANTS WHICH IS IN PART WHY THE COST OF CHEAPER CUTS LIKE HOT DOGS AND HAMBURGERS ARE ON THE RISE.

WITHOUT ENOUGH MERCHANDISE COMING TO STORES SHELVES AND DEALER LOTS, THE PRICE IS GOING TO KEEP GOING UP.

DESPITE RUNNING 24/7, SOME AMERICAN PORTS ARE STILL FACING BOTTLENECK ISSUES. 

BUT BIDEN CONTINUES TO TOUT HIS INFRASTRUCTURE BILL, PROMISING THAT 17 BILLION OF IT WILL HELP MODERNIZE PORTS AND EASE INFLATION.  

IN THE INTERIM… A BIT OF GOOD NEWS.

WHILE YOUR CHRISTMAS GIFTS ARE NOT GUARANTEED, ALCOHOL AND AIRLINE PRICES ACTUALLY DECREASED LAST MONTH. 

BUT I WANT TO HEAR FROM YOU. WHAT HAVE YOU PURCHASED LATELY THAT’S GIVEN YOU STICKER SHOCK?

LET ME KNOW IN THE COMMENTS BELOW.